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This paper explains that the project management process is divided into three major phases: Select, manage, and track. The author points out that money plays a crucial role in project selection, and the author presents elements of the financial analysis, which needs to be performed before a project is selected, such as the Net Present Value and the Internal Rate of Return. The paper stresses that the most important part of the management phase is managing the human resources and that, over the long period of the project, people will be fired, go on vacation, or migrate from one project to another.
Cite this Essay:
Project Management (2005, January 28) Retrieved August 06, 2020, from https://www.academon.com/essay/project-management-55404/
"Project Management" 28 January 2005. Web. 06 August. 2020. <https://www.academon.com/essay/project-management-55404/>